9911796707
TMI Blog2024 (11) TMI 841X X X X Extracts X X X X X X X X Extracts X X X X ..... under the agreement - HELD THAT:- This aspect as to whether there was a bona fide pre-existing dispute or not has to be considered by the Tribunal and Appellate Tribunal which has not been dealt with nor the application under Section 9 of the IBC has been rejected on the above ground. Both the impugned orders passed by the NCLAT as also by the NCLT are set aside and the application filed under Se ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... any Law Tribunal(NCLT)/Adjudicating Authority dated 18th December, 2020 rejecting its application under Section 9 of the Insolvency and Bankruptcy Code, 2016(IBC). The application was rejected by the adjudicating authority on two grounds: Firstly that there was no valid Board resolution in favour of the appellant, who had signed the application and Secondly there was an existing arbitration clause ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... prior to the demand notice being issued on 21st August, 2019. It is thus submitted that both the Tribunals relied upon an incorrect document to find fault with the appellant s application. Insofar as the second ground relating to arbitration clause is concerned, the learned counsel for the appellant submitted that only a notice under Section 21 of the Arbitration and Conciliation Act, 2016 had bee ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... her there was a bona fide pre-existing dispute or not has to be considered by the Tribunal and Appellate Tribunal which has not been dealt with nor the application under Section 9 of the IBC has been rejected on the above ground. Accordingly, for the reasons recorded above, the appeal is allowed, both the impugned orders passed by the NCLAT as also by the NCLT are set aside and the application fil ..... X X X X Extracts X X X X X X X X Extracts X X X X
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